The SRTF’s Management Committee Approves a Revised Procurement Policy and Manual

Amman - Sunday, 7^th June 2020 – As part of the SRTF’s ongoing efforts to improve its work policies & procedures, ensure transparency, and adopt best practices, a special review of the Fund’s procurement procedures, bids, and contracts conducted by an independent consultant, NomoRisk GmbH, Germany, who was selected and appointed by the Trustee of the SRTF. The Special Procurement Review by the consultant reviewed the Fund’s procurement process to assess the level of compliance with pertinent manuals, the Procurement Manual, and the Operations Manual as far as it relates to the procurement process.  The consultant also examined concluded tenders and contracts and reported no findings; however, the consultant provided several recommendations to improve the overall ability of the SRTF to deliver on its objectives in an effective and efficient manner.

Based on the special review report, the Management Committee (MC) of the SRTF decided to conduct a risk-based procurement policy and process revision and engaged the same consultant. The consultant recently presented the new policy and manual to the MC, and the MC approved the improved and streamlined policy, procedures, templates, and forms.

The new policy and manual redefine procurement needs, improves controls and risk mitigation, increases the efficiency of bids and contract procedures and templates, omits less common procurement methods, and strengthens supplier management processes.

The new procurement policy, manual, and templates are published on the SRTF’s website and will be officially in use effective July 1^st, 2020.

For Procurement Policy, Manual and Templates see:

https://www.srtfund.org/procurements/list

For more information on the SRTF visit:

http://www.srtfund.org

Media outlets may contact:
communications@srtfund.org